Specialist Lloyd’s insurance and reinsurance firm Neon has hired Mark Gibson, previously of Argo Group, to lead the development of its outwards reinsurance and alternative or third-party capital strategy.
Gibson has been with Argo Group for five years as Director of Alternative Risk Markets, running its third-party reinsurance capital strategies including the firm’s Harambee Re collateralized reinsurance sidecars, and likely had involvement in Argo Re’s fronting activities for ILS investors, as well as Argo’s Loma Re catastrophe bond series.
At Neon, Gibson takes on the role of Reinsurance and Alternative Capital Director, reporting to Managing Director, Ian Martin, and starts immediately for the firm.
He will be given responsibility for developing Neon’s outwards reinsurance programme and third-party capital strategy.
Gibson has more than 30 years in the reinsurance sector, with a focus on alternative markets, collateralized structures and insurance-linked securities (ILS) gained over the last decade or more.
Prior to his time at Argo group, Gibson spent 20 years with broker Guy Carpenter, ending up in the role of Managing Director of GC Advanced Risk Solutions, their capital markets division. Before that he was at BNP leading of non-life business within the Fixed Income Division’s insurance solutions team.
Martin Reith, Neon Group Chief Executive, commented on the hire; “This is another excellent senior hire for us and I’m delighted to welcome Mark to Neon. Mark brings extensive knowledge and experience around both third party capital management and reinsurance, and his expertise will make an important contribution to this part of Neon’s strategy. I look forward to his input as we drive forward this side of the business.”
Third-party capital could become an important contributor to Neon’s business strategy, helping it to optimise its own outwards reinsurance book, and also using investor-backed capacity to enhance its underwriting efficiency as well.
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